Wednesday, 25 April 2012

OUTLOOK FOR NORTHERN IRELAND HOUSING MARKET IS GUARDEDLY OPTIMISTIC


According to the most recent Housing Market Survey conducted by the Royal Institution of Chartered Surveyors (RICS) and the Ulster Bank, Northern Ireland’s property market experienced a rise in transactions during March.

In addition, property enquiries also increased.

In spite of this encouraging news, prices continue to fall, with further decreases expected to come in the months ahead.

Tom McClelland, RICS Northern Ireland spokesman, was keen to emphasise that a major shift in the market is not expected. However, he remained optimistic about the forecast for first-time buyers: ‘With prices at the lower end of the market now so much more affordable and increasing stability, there is evidence that if first-time buyers have a deposit, there is enthusiasm to buy.’